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After graduating from school or leaving an apprenticeship to begin a farrier career, what questions will cross your mind? Where will you find clients? How much should you charge for a trimming or shoeing? What type of clients do you want to work for? Certainly, there are dozens of other questions that will receive much deliberation as you launch your practice.
However, questions about insurance likely aren’t high on that list of priorities. But think about the needs you have as a business owner. You need to protect your vehicle in case of an accident. You need health coverage should you need to visit a doctor. In case a horse injures you, some level of disability coverage is sound planning.
Among various types of insurance, liability coverage is often ignored. However, having this insurance is critical to your hoof-care practice.
According to Lance Allen, a veterinarian and director/executive underwriter with Markel Insurance, there are three likely reasons farriers typically reject carrying a liability policy.
“My homeowner’s insurance will cover me.” The assumption of blanket coverage isn’t just a farrier misconception, but is one held by most people across insurance types. This assumption is easily preventable by reading your insurance policies — not a task looked forward to by most.
“When was the last time you read your auto policy?” Allen asks. It is crucial to thoroughly read all of your coverage and understand what it covers and limits.
Equine liability laws may not protect you in case you…